Sachs Brands's defined benefit pension plan specifies annual retirement benefits equal to 1.6% * service years * final year's salary, payable at the end of each year. Angela Davenport was hired by Sachs at the beginning of 2007 and is expected to retire at the end of 2041 after 35 years' service. Her retirement is expected to span 18 years. Davenport's salary is $99,000 at the end of 2021 and the company's actuary projects her salary to be $325,000 at retirement. The actuary's discount rate is 9%. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. What is the company's projected benefit obligation at the beginning of 2021 (after 14 years' service) with respect to Davenport? (Do not round intermediate calculations. Round your final answer to the nearest whole dollar.) 2. Estimate by the projected benefits approach the portion of Davenport's annual retirement payments attributable to 2021 service. 3. What is the company's service cost for 2021 with respect to Davenport? (Do not round intermediate calculations. Round your final answer to the nearest whole dollar.) 4. What is the company's interest cost for 2021 with respect to Davenport? (Do not round intermediate calculations. Round your final answer to the nearest whole dollar.) 5. Combine your answers to requirements 1, 3, and 4 to determine the company's projected benefit obligation at the end of 2021 (after 15 years' service) with respect to Davenport (Do not round intermediate calculations. Round your final answer to the nearest whole dollar.) 1. Project benefit obligation 2. Annual retirement payments 3. Service cost 4. Interest cost 5. Projected benefit obligation TABLE 4 Present Value of an ordinary Annuity of $1 1- 1 PVA 1 2 3 4 5 .0% 1.5% 2.0% 0.99010 098522098039 197040 195588 94156 294099 291220 2.88388 390197 385438380773 4853434.78264 471346 2.5% 097561 192742 2.85602 3.76197 4.64583 3.0% 3.59 4.0% 097087096618 096154 1.91347 1.89969188609 282861 280164 2.77509 3.71710367308 3.62990 457971 4.5155 445182 4.54 0.95694 8 7261 2.74896 358753 438998 5.0% 095238 85941 2.72325 3.54595 4.32948 5.3% 6.0% 0.94787 0.94340 1.84632 1.83339 2.69799267301 3.50515346511 4.270284.21236 70% 8.0% 0.0% 0.0% 11.0% 12.0% 20.0% 093458 0.92593091743 0.90909090090 0.89286 083333 1.80802 1.78326 1.75911 173554 171252 16900$ 1.52778 2.6232257710 2.53129 2.48685 244371 2.40183 2.10618 38721 3.31213 3.23972 3.10957 3.10245 3.03735 2.58873 410020 3992713.88965 3.79079 3.69590 3.60178 2.99061 6 5.79548 5.69719 7 8 9 10 6.72819 7.65168 8.56602 9.47130 6.59521 748593 836052 9.22213 5.60143 5.508135 .41719 5.32855 5.24214 515787 5.07569 6.47199 6.349396.23028 6.11454 600205 589270378617 7.32548 7.17014 701909 687396 6.73274 6.59589 646321 8.162247.970877.78611 7.60769743533726579 7.10782 898259 8.75206 8.53020831661 8.11090 791272 7.72173 4 09441 401737 4.76054 4.69288 4,48592 4.35526 4.23054 4.11141 3.32551 5.68297 5.58238 5389195 20637 5.01295 436842471220 4.56376 3.60159 633457620979597130 5.74664 S53482 5.334935.14612 496764 3.83716 695220680169 6.51523624689599525 5.75902 5 53705 533825 +.03097 753763 7.36009 2.02358 6.71008 6.4176661657 5.88923 5.65022 4.19247 11 10.36763 10.07112 9.784859.31421 9.252629.00156 8.76045 8.52892 8.30641 8.00254 7886877.49867713896 6.80519 6.49506 6.30652 5.93770 4.32706 12 11.2550$ 1090751 10.57534 10.25776 9.95-100 9.66333 9385079.11856 8 363258.61852838384 7.94269 2.53608 7.160736.51309 0.49236 6.19437 4.43922 13 12.13574 11.73153 11.34837 10.98319 10 63496 10.30274 9.98565 9.652859 19557911708 8.85268315765 7 90378748690710336 674987642355 453268 14 13.00370 12.54338 12 10625 11 69091 11.29607 10.92052 10.56312 10.22255989864 9559659291988.45475.24424 7.75615716669 6.95157 6.62817 4.61057 15 13.86505 13.34323 12.84926 12.38138 11.93791 11.51741 1111839 10.739551037900 10.01758 9.71225 9.10791 8.55945806089 7,60608 719087 681086 467547 16 14.71787 14.13126 13.57771 13.05500 12.56110 17 15 56275 14 90765 1429187 13.71220 13 16612 18 16 39827 15 67256 14 99203 14 35336 13.75351 19 1722601 16 42617 15.67146 1497889 14 37380 20 18.04555 17.16564 16 35143 15.58916 14.87747 12.09412 11.65230 11.23401 10.85777 10.46216 10.105909.44645 .851373 1256 7.52371737916 697199 4.72956 12.65132 12.16567 11.70719 11 2107 10.86461 10.477209.76322912164 54363 802155 754879711963 4.77461 13.18968 12 65930 12.1599911689591124607 10.82760 10.05909 9.371895 75563 8. 20141 770162224967 +81219 13.70984 13.13394 12.59329 12.08532 11.607651115812 10.335809,60360 895011 836192781929 736578 484350 1421240 13.59033 13 00794 1246221 11 95038 1146992 10 59101 9.515159.12855 351356 796331 746014436958 21 18.85608 17.00014 17 01121 16.18455 15.41502 14.6797 14.02916 13.40412 12.82115 12.27524 11.76408 10.23553 10.01680 9.29324 8.64860 NO307 2.56200 4.89132 75 2202316 30 71961 1952146184243 1741315 10:48151 15.62208 1452821 14.093941341393 12.783301165358 10.67475 9.82358 9,07704842174788314 494759 30 25 30771 24 01584 22.39646 20.93029 19 60044 18,39205 17.29203 16.28389 1537245 14.53375 13.76483 12.409041135778 10.27155 942691 6937930358 497594 403283469 29 91585 27.35548 25.10278 23.114772035502 19.19277 1840158 1715909 1604612 15.04530 1130171 11.92461 10.75736 9.77905 895105 824378 4.99560 Sachs Brands's defined benefit pension plan specifies annual retirement benefits equal to 14% service years final year's salary. of each year. Angela Davenport was hired by Sachs at the beginning of 2007 and is expected to retire at the end of 2041 after 35 years' service Her retirement is expected to span 18 vears Davenport's salary is $82.000 at the end of 2021 and the company's actuary projects her salary to be $240,000 at retirement. The actuary's discount rate is 8%. V of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) At the beginning of 2022, the pension formula was amended to: 1.55% x Service years * Final year's salary The amendment was made retroactive to apply the increased benefits to prior service years. Required: 1. What is the company's prior service cost at the beginning of 2022 with respect to Davenport after the amendment described above? 2 Since the amendment occurred at the beginning of 2022, amortization of the prior service cost begins in 2022 What is the prior service cost amortization that would be included in pension expense? 3. What is the service cost for 2022 with respect to Davenport? 4. What is the interest cost for 2022 with respect to Davenport? 5. Calculate pension expense for 2022 with respect to Davenport, assuming plan assets attributable to her of $100,000 and a rate of return (actual and expected) of 10% (For all requirements, do not round intermediate calculations. Round your final answers to the nearest whole dollar.) 1. Prior service cost 2. Prior service cost amortization 3 Service cost 4. Interest cost 5. Pension expense